by Moe Bedard
A new government push to clean up bad home loans could dent bank earnings because the industry may have to take losses on the assets sooner than some investors expect.
The new effort, called Home Affordable Foreclosure Alternatives, or HAFA, kicks in April 5. Some banking and real-estate industry experts see it as a
Read the full article →
by Moe Bedard
The relative failure of Obama’s plan is a particular disappointment, consumer advocates say. After spending hundreds of billions of dollars in bank bailouts, the administration proposed a plan that would pay mortgage servicers for successfully modifying eligible delinquent home loans. Investors that owned securitized mortgages that were modified would get paid, too. Most importantly, distressed [...]
Read the full article →
